Press release
Automotive Sensors Market 2023 : Industry Analysis, Growth, Drivers And Forecast 2032 | Robert Bosch GmbH, Continental AG, DENSO Corporation, Infineon Technologies AG, Sensata Technologies
Automotive Sensors Market Growth
The Business Research Company's Automotive Sensors Global Market Report 2023 identifies the rising adoption of autonomous vehicles as the major driver for the Automotive Sensors market's growth in the forecast period. The use of automotive sensors in autonomous vehicles has reduced the drivers' stress and increased the productivity of the vehicle. For instance, the global autonomous car market is projected to grow from $1.64 billion in 2021 to $11.03 billion in 2028 at a CAGR of 31.3% due to the increased demand.
The global automotive sensors market size grew from $24.79 billion in 2022 to $28.29 billion in 2023 at a compound annual growth rate (CAGR) of 14.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The automotive sensors market size is expected to grow to $48.05 billion in 2027 at a CAGR of 14.2%.
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Major competitors in the Automotive Sensors market are Robert Bosch GmbH, Continental AG, DENSO Corporation, Infineon Technologies AG, Sensata Technologies, Allegro Microsystems Inc., Analog Devices Inc., ELMOS Semiconductor SE, Aptiv plc, NXP Semiconductors N.V., STMicroelectronics N.V., CTS Corporation, Texas Instruments Incorporated, TE Connectivity Ltd., ZF Friedrichshafen, Magna International.
A key trend in the Automotive Sensors market includes the rise in the use of pressure sensors in the automotive industry. Pressure sensors are used for discovering the early faults in hydraulic brakes, optimising the fuel mix to match the air pressure, automatic cleaning of exhaust filters, tracking exhaust recirculation, critical fluid examinations, finding vapour leakages, triggering airbags faster, and launching pedestrian airbags. For example, in September 2020, Sensata Technologies, Inc., an industrial technology company and a leading provider of sensors, launched the new PTE7100 and PTE7300 hermetic pressure sensors for industrial applications.
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The Automotive Sensors market is segmented -
By Type: Temperature Sensors, Pressure Sensors, Speed Sensors, Level/Position Sensors, Magnetic Sensors, Gas Sensors, Inertial Sensors
By Vehicle Type: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
By Technology: Nano-Electro-Mechanical Systems, Micro-Electro-Mechanical Systems
By Application Type: Powertrain, Chassis, Exhaust, ADAS, Other Applications
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Automotive Sensors market.
The Business Research Company's "Global Automotive Sensors Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Automotive Sensors Market Include:
1. Executive Summary
2. Automotive Sensors Market Characteristics
3. Automotive Sensors Market Trends And Strategies
4. Automotive Sensors Market - Macro Economic Scenario
5. Automotive Sensors Market Size And Growth
……
26. Africa Automotive Sensors Market
27. Automotive Sensors Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Sensors Market
29. Automotive Sensors Market Future Outlook and Potential Analysis
30. Appendix
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